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Extruded Polystyrene Market Share

ID: MRFR//6031-CR | 94 Pages | Author: Chitranshi Jaiswal| September 2019

In the dynamic landscape of the Extruded Polystyrene (XPS) market, market share positioning strategies are crucial for companies aiming to establish a strong foothold and stay competitive. One primary strategy employed by market players is differentiation through product innovation. Companies invest in research and development to create XPS products with enhanced performance characteristics, improved insulation properties, and eco-friendly features. By offering unique and advanced products, businesses aim to attract customers looking for high-quality and sustainable insulation solutions, thereby securing a distinct market share.

By increasing the extruded polystyrene in commercial and residential constructions worldwide for insulation and reducing greenhouse gas emission in the developed regions are the major key drivers of the growth of the Extruded Polystyrene Market. For its excellent flexibility, compatibility, thermal efficiency, high strength, and lightweight, there is demand over extruded polystyrene market forecast. In the construction sector, floorings and ceilings account for the largest market share for extruded polystyrene applications. In addition to that, EPS roofing insulation is used in roofing systems.

Another key positioning strategy in the XPS market involves strategic partnerships and collaborations. Companies often form alliances with suppliers, distributors, and construction firms to expand their market reach and distribution networks. By establishing strategic partnerships, businesses can ensure a steady supply chain, efficient logistics, and broader market access. This approach enables companies to capture a larger share of the market by leveraging the strengths of various stakeholders in the value chain.

Price competitiveness is a significant factor influencing market share positioning in the XPS market. Some companies adopt a cost leadership strategy, aiming to offer XPS products at competitive prices without compromising on quality. This approach is particularly effective in price-sensitive markets where consumers prioritize affordability. By optimizing production processes and economies of scale, companies can position themselves as cost leaders, attracting budget-conscious customers and gaining a considerable market share.

Geographical expansion is another essential market share positioning strategy in the XPS market. Companies seek to extend their presence into new regions and markets by strategically investing in distribution networks and establishing regional offices or production facilities. This approach allows businesses to tap into diverse customer bases, respond to regional market needs, and adapt to varying regulatory environments. Geographical expansion enhances market penetration and contributes to a broader market share for XPS products.

Marketing and branding play a pivotal role in market share positioning for XPS manufacturers. Companies invest in effective marketing campaigns to create brand awareness and highlight the unique features and benefits of their XPS products. Building a strong brand image helps in establishing trust with customers and differentiating products from competitors in a crowded market. Through targeted marketing efforts, companies can influence customer perceptions and preferences, ultimately securing a larger share of the XPS market.

Sustainability initiatives also impact market share positioning strategies in the XPS market. As environmental concerns gain prominence, consumers are increasingly inclined toward eco-friendly and sustainable building materials. XPS manufacturers focusing on environmentally responsible production processes, recycling programs, and the use of recycled materials position themselves favorably in the market. By aligning with the growing demand for sustainable solutions, companies can attract environmentally conscious customers and secure a substantial market share.

Customer-centric strategies, including excellent customer service, warranty programs, and after-sales support, contribute to market share positioning in the XPS market. Building strong relationships with customers fosters loyalty and repeat business. Additionally, positive customer experiences often lead to word-of-mouth recommendations, further expanding a company's market share.

In conclusion, market share positioning strategies in the Extruded Polystyrene (XPS) market are diverse and multifaceted. Differentiation through innovation, strategic partnerships, price competitiveness, geographical expansion, effective marketing, sustainability initiatives, and customer-centric approaches are all integral components of successful market share positioning. As the XPS market continues to evolve, companies that can effectively implement and adapt these strategies will be well-positioned to capture and retain a significant share of the market.

Extruded Polystyrene Market Highlights:

Extruded Polystyrene Market Trends

Extruded Polystyrene Market Analysis

Extruded Polystyrene Market Share

Extruded Polystyrene Companies

Global Extruded Polystyrene Market Overview

The Extruded Polystyrene Market Size was valued at USD 5.1 Billion in 2022. The Extruded Polystyrene industry is projected to grow from USD 5.67 Billion in 2023 to USD 7.9 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.2% during the forecast period (2023 - 2030). Extruded polystyrene (XPS) foam provides advanced properties like assisting in moisture management and resists both water absorption and freeze/thaw cycles. Primarily, it is used for improving the insulation of buildings, roofs, and concrete floors. It is used in the building and construction sector for its thermal efficiency, durability, lightweight, shock absorption, moisture resistance, usability, and more properties. So, the demand for XPS increases by increasing construction activities in the world. Extruded Polystyrene Market Overview Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Extruded Polystyrene Market Trends

The use of XPS in commercial and residential construction activities is boosted market growth.

Increasing the extruded polystyrene in commercial and residential constructions worldwide for insulation and reducing greenhouse gas emissions in the developed regions are the major key drivers of the growth of the Extruded Polystyrene Market. Of its excellent flexibility, compatibility, thermal efficiency, high strength, and lightweight, there is a demand for extruded polystyrene market forecast. In the construction sector, floorings and ceilings account for the largest market share for extruded polystyrene applications. In addition to that, EPS roofing insulation is used in roofing systems.

Additionally, The development of green buildings coupled with the recyclability of polystyrene products provides the largest growth for the extruded polystyrene market. The advanced technology and formless use of toxic chemicals to keep the environment safe are leading to the expansion of the growth of extruded polystyrene market analysis.

Extruded Polystyrene Market Segment Insights

Extruded Polystyrene Application Insights

The Extruded Polystyrene Market segmentation, based on Application, includes foundation, wall, roof, ceiling, floor, and others. Amongst these, the foundation segment is growing at the very best CAGR. The extruded polystyrene saves energy used for heating or cooling. Apart, it also strengthens the general infrastructure due to its high compressive strength and moisture resistance.

Extruded Polystyrene End-user Insights

Based on end-user, the Extruded Polystyrene Market segmentation includes residential construction and commercial construction. Residential end-use grows faster than commercial for its demand in developed and further in developing countries. As a result in the forecast period, the residential segment accounts for the largest share in terms of volume and import. In 2018, it dominated the world XPS market with a 53.7% share. Whereas, the commercial segment exhibits a CAGR of 6.18% from 2019-2023. It is segmented into industrialization and hefty investments in the creation of special economic zones.

Figure 2: Extruded Polystyrene Market, by End-user, 2023 & 2030 (USD Billion) Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Extruded Polystyrene Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is estimated to be the largest as well as the fastest-growing market during the forecast period. Increasing government and private sector investments in infrastructure development are likely to boost the construction market in countries such as India and China, creating lucrative growth opportunities. The growth of the market is also fueled by rapid urbanization in the Asia-Pacific region.

Figure 3: EXTRUDED POLYSTYRENE MARKET SHARE BY REGION 2023 (%) Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Extruded Polystyrene Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Extruded Polystyrene market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Extruded Polystyrene industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Extruded Polystyrene. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Extruded Polystyrene industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Extruded Polystyrene industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Extruded Polystyrene market players, including Kingspan Group (Ireland), BASF SE (Germany), Owens Corning (US), EMIRATES EXTRUDED POLYSTYRENE L.L.C (UAE), and others, are attempting to increase market demand by funding R&D initiatives.

Kingspan Group is a company that specializes in insulation and building envelope solutions for the construction market. It operates through five divisions: Insulated Panels, Insulation, Data and Flooring, Water and Energy, and Light and Air. The Insulated Panels division provides insulated panels, structural framing, and metal facades.

Also, BASF is a company that provides petrochemicals, intermediates, performance materials, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals. It conducts its operations through six business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions.

Key Companies in the Extruded Polystyrene market include

Kingspan Group (Ireland)

BASF SE (Germany)

Owens Corning (US)

EMIRATES EXTRUDED POLYSTYRENE L.L.C (UAE)

Abriso NV (Belgium)

Ravago (Belgium)

Soprema Inc (France)

JACKON Insulation GmbH (Germany)

Austrotherm (Austria) and

URSA Insulation, S.A (Spain)

Extruded Polystyrene Industry Developments

June 2021, SUEZ Group and Airex Energy have signed a partnership to scale up the manufacturing of converting biomass remainders into biochar that can be used in a range of applications in the construction industry. The collaboration that has been in process for over six months is just the start, as said by the vice president of business development with Airex Energy. The company is located in Becancour, Que. The concept is to build biochar production plants, and the group is now searching for sites and finetuning the technology to be able to manufacture biochar on a greater scale. Biochar is being utilized in a range of industry sectors to decrease the carbon footprint as well as CO2 emissions from the atmosphere. One of the advantages of biochar is it eliminates carbon from the atmosphere and confiscates it in soils for hundreds of years.

September 2021, DuPont announced it is even more urgent that industry, policymakers, and architects work together to restrict the impact of global warming and decrease embodied carbon. The announcement came with United Nations' Intergovernmental Panel on Climate Change (IPCC) 's latest landmark climate report release. Confirming its assurance of transparency, DuPont Performance Building Solutions has released an Environmental Product Declaration (EPD) for its latest Styrofoam™ Brand ST-100 Series extruded polystyrene insulation (XPS). The new EPD ensures DuPont's practice of publishing third-party-verified EPDs for Styrofoam Brand products sold in North America, counting its abridged and low global warming potential (GWP) products launched in 2021, to aid architects and builders navigate the path to AIA2030 and address the climate crisis.

Extruded Polystyrene Market Segmentation

Extruded Polystyrene Application Outlook

Foundation

Wall

Roof

Ceiling

Floor

Extruded Polystyrene End-user Outlook

Residential construction

Commercial Construction

Extruded Polystyrene Regional Outlook

North America
- US
- Canada

Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe

Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific

Rest of the World
- Middle East
- Africa
- Latin America

Extruded Polystyrene Companies

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